Crypto Firms Challenge Regulators in Court

user avatar

by Giorgi Kostiuk

2 years ago

Recently, there has been a surge in legal battles between crypto companies, developers, and government agencies over new legislative initiatives and their impact on the industry.

Developer Challenges from DOJ

Michael Lewellen, a crypto developer and Coin Center fellow, filed a lawsuit against US Attorney General Merrick Garland seeking clarity on the legal status of his crowdfunding software Pharos. Lewellen argues that his software complies with money-transmitting laws as it does not control user cryptocurrencies. Coin Center supports Lewellen's case, emphasizing the need for legal clarity to foster crypto innovation.

Tech Groups vs CFPB

Trade groups TechNet and NetChoice recently filed a lawsuit against the US Consumer Financial Protection Bureau (CFPB) challenging a new regulation that extends oversight to payment apps. They argue that this move hinders innovation and increases costs. The CFPB defends the regulation as a measure to protect consumer data and reduce fraud.

Class-Action Against Pump.fun

Burwick Law announced plans for a class-action lawsuit against the Solana-based platform Pump.fun for exploitative practices. The firm accuses Pump.fun of profiting from harmful content and misleading users. The platform had earlier faced criticism and was restricted in the UK following scam complaints.

These legal disputes highlight the growing tension between crypto companies and regulators, indicating a need for clearer legal frameworks to support innovation in the crypto space.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Solana Ecosystem Tokens Outperform Broader Altcoin Market

chest

Recent performance benchmarks indicate that Solana ecosystem tokens are outpacing the broader altcoin market, highlighting the active internal rotation within the network.

user avatarSon Min-ho

Arbitrum Achieves $814 Million in Daily DEX Volume

chest

Arbitrum has recorded an impressive $814 million in daily decentralized exchange volume, showcasing strong activity on the Ethereum Layer2 network.

user avatarAyman Ben Youssef

Securitize Enhances Tokenization Framework for Public Equities

chest

Securitize has enhanced its framework for tokenizing public equities, contributing to the integration of traditional assets into blockchain infrastructure.

user avatarTando Nkube

Significant Surge in Dogecoin Network Activity

chest

Significant surge in Dogecoin network activity with a 35% rise in active addresses and daily transactions exceeding 12 million.

user avatarKofi Adjeman

XRP Ledger Reaches 3 Billion Transactions Milestone

chest

The XRP Ledger has achieved a remarkable milestone by crossing 3 billion cumulative transactions.

user avatarNguyen Van Long

Cardano's Blockchain Verification Infrastructure Deployed by Major Retail Group

chest

A major retail group has successfully deployed blockchain verification infrastructure built around Cardano's ecosystem, enhancing the verification of authenticity, origin, and sustainability claims within supply chains.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.